Kaito Raises Funds, Boasts $87M Valuation As On-Chain Crypto Search Engine Debuts

Search engine startup Kaito raised $5.5 million in a Series A funding round, bringing its total valuation to $87.5 million.
On June 20, the company's search engine made its debut in the Beta version to a pool of 35,000 users who had pre-registered.

The product is unique in that it amalgamates large language models (LLMs) with access to data from diverse sources including Twitter, Discord, Telegram, governance forums, Medium, Mirror, industry-specific research, news, as well as Kaito’s proprietary transcripts of Twitter Spaces and podcasts, in addition to on-chain data.

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"Even with plugins, ChatGPT today does not connect to many off-chain crypto-specific information silos or on-chain data, thereby unable to meet people's needs in the [crypto] space," Kaito CEO Yu Hu told Coindesk.

LLMs, such as OpenAI’s ChatGPT and Google’s Bard, have undergone training on extensive language datasets. They can comprehend and produce texts resembling human language.

LLMs also have the capacity to grasp intricate concepts and elucidate them to users in an accessible manner.

Early-stage venture firms Superscrypt and Spartan led the funding round. The effort comes on the heels of a $5.3 million fundraising round in February, led by technology VC Dragonfly with participation from Sequoia Capital China and Jane Street.

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